Lake, MI—48632
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lake, MI
Lake, MI lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $164,000 | 1.8% |
| Single Family | $164,000 | 2.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $143,000 | 2.1% |
3 Bed | $209,000 | 4.0% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Lake, MI
Lake, MI lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Lake, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Lake, MI is 67. This is a increase of 11.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $186,000 | 5.0% |
Listing Count | 57 | 16.0% |
| Listings as % of Homes | 0.6% | 16.0% |
Days on Market | 67 | 11.0% |
Demographics — Lake, MI
As of the latest ACS Survey released in 2023, Lake, MI has a population of 5,000, which has decreased by -4.8% over the past 5 years. Lake, MI is a moderately popular place for families, as children make up 19.1% of the population. The area has a poorly educated workforce, with 14.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,000 | -4.8% |
% Under 18 | 19.1% | 3.8% |
% Seniors | 23.6% | -8.5% |
% WFH | 5.5% | 34.1% |
% w/ College Degree | 14.3% | 60.7% |
As of the latest ACS Survey released in 2023, Lake, MI is a predominantly white area, with 91.1% of the population identifying as white. The white population has shrunk by 1.3% in the last 5 years. The second most common race or ethnicity in Lake, MI is hispanic, making up 3.6% of the population. Foreign-born residents account for 2.5% of the population in Lake, MI, and this percentage has increased by 177.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 91.1% | -1.3% |
% Black | 0.0% | -100.0% |
% Hispanic | 3.6% | 38.5% |
% Asian | 0.9% | 800.0% |
% Foreign Born | 2.5% | 177.8% |
Mortgage and Risk — Lake, MI
According to HUD data as of 2023, there were 108 mortgage originations in Lake, MI, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in Lake, MI. Investor activity is low, as 2.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 108 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 2.0% |
% Second Loans | 33.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Lake, MI
Lake, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $740 |
| 2 Bedroom | N/A | N/A | $930 |
| 3 Bedroom | N/A | N/A | $1,170 |
| 4 Bedroom | N/A | N/A | $1,500 |
Affordability — Lake, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $164,000 |
| Median Household Income | $51,700 |